Definitive Agreement Announced

Baxter to Divest Kidney Care Segment to Carlyle for $3.8B

Definitive Agreement Announced

Baxter International Inc. (BAX) has announced a definitive agreement to divest its Vantive Kidney Care segment to Carlyle for $3.8 billion.

Transaction Details

Under the terms of the agreement, Baxter will receive $3.8 billion in cash, subject to certain closing adjustments. The transaction is expected to close in the second half of 2023, subject to customary closing conditions and regulatory approvals.

Baxter's Vantive Kidney Care segment, headquartered in Waltham, Massachusetts, offers a comprehensive portfolio of peritoneal dialysis (PD) and hemodialysis (HD) products and services to patients with end-stage renal disease (ESRD). In 2022, Vantive Kidney Care generated revenue of approximately $1.4 billion.

The divestment of Vantive Kidney Care is part of Baxter's ongoing strategy to focus on its core businesses in medication delivery, renal care, and surgical care. Baxter intends to use the proceeds from the sale to reduce debt and invest in its core businesses.

Carlyle is a global investment firm with a long history of investing in healthcare companies. The firm believes that Vantive Kidney Care has a strong market position and growth potential, and it looks forward to supporting the business in its next phase of growth.